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melisa1 [442]
3 years ago
15

Deadweight losses occur when the quantity of an output produced is: less than, but not when it is greater than, the competitive

equilibrium quantity greater than, but not when it is less than, the competitive equilibrium quantity less than or greater than the competitive equilibrium quantity such that the marginal benefit of the output is just equal to the marginal cost
Business
1 answer:
IRINA_888 [86]3 years ago
4 0
I think the correct answer would be the first option. Deadweight losses occur when the quantity of an output produced is  less than, but not when it is greater than, the competitive equilibrium quantity. It is also known as allocative inefficiency. It is a loss of efficiency that will happen when the equilibrium of a good is not reached or the supply and the demand of a good are not in equilibrium such that the quantity of the goods is less than the equilibrium quantity. It is a loss due to inefficient use of the resources available. Price controls, minimum wage and taxation are said to cause deadweight loss.
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At the beginning of the year, Smith Company budgeted overhead of $129,600 as well as 13,500 direct labor hours. During the year,
polet [3.4K]

Answer:

1. 9.60 per hour

2. $11,129

3. Dr Manufacturing overhead 172500

Cr Lease payable 6800

Cr Accumulated depreciation-Building 19340

Cr Wages payable 90400

Cr Utilities payable 14560

Cr Account payable 41400

4. Over applied overhead= $1,260

5. $634,340

Explanation:

1) Calculation for the overhead rate for the year

Using this formula

Overhead rate = Estimated overhead/Estimated hour

Let plug in the formula

Overhead rate = 129600/13500

Overhead rate = 9.60 per hour

2) Calculation for the total cost of Job K456

Total cost of Job K456

Direct material 2750

Direct labor 5355

Overhead 3024

(5355/17*9.60)

Total cost of Job $11129

3) Preparation of the journal entries to record actual overhead and to apply overhead to production for the year.

Dr Manufacturing overhead 172500

(6800+19340+90400+14560+41400)

Cr Lease payable 6800

Cr Accumulated depreciation-Building 19340

Cr Wages payable 90400

Cr Utilities payable 14560

Cr Account payable 41400

(Being To record actual overhead)

Work in process (18100*9.6) 173760

Manufacturing overhead 173760

(To record applied overhead)

4) Calculation for whether overhead is overapplied or underapplied

Over applied overhead = 173760-172500

Over applied overhead= $1260

5) Calculation for the adjusted cost of goods sold

Adjusted cost of goods sold = 635600-1260

Adjusted cost of goods sold= $634340

8 0
3 years ago
Marsha’s Pet Store employs six employees. Their duties are to sell pets, replenish the stock, keep the pets’ cages clean, feed t
Gemiola [76]

Answer: True.

Explanation:

People sometimes have a tendency of doing only what they are told to do or only what they are paid for. This is why most people who progress in a company do so on the basis of having done work that was not in their description, but would have helped the company progress.

It would appear that Marsha's 6 employees are all of the caliber of employees who just do what they are told and nothing more.

For this reason therefore, she would include a stipulation changing the scheme to include careful performance of the other duties before any sales commission can be earned. This way they'll start to do those other things since they are now paid to do so.

8 0
3 years ago
Mimi Couturier is a design company that specializes in formalwear for women. The company is known for challenging fashion mores.
Reika [66]

Answer: have someone study its target market to see what needs and wants should be met by Mimi Couturier Co

Explanation:

Despite the fact that Mimi Couturier is doing everything possible to be efficient and productive, the company is losing money because the company hasn't studied the target market.

The target market refers to the group of consumers that the product is aimed for. When the target market is studied, then the company will be able to know what the consumers want from them and seek ways to address that.

5 0
3 years ago
You observe a portfolio for five years and determine that its average return is 11.3​% and the standard deviation of its returns
4vir4ik [10]

Answer:

-28.1%

Explanation:

Calculation for what would a​ 30% loss next year be outside the​ 95% confidence interval for the​ portfolio

The standard deviation of 95% confident will be 2

The first step is to find the Upper tail using this formula

Upper tail= Average return percentage +(Standard deviation of 95% confident *Standard deviation of its returns)

Let plug in the formula

Upper tail=0.113+(2*0.197)

Upper tail =0.113+0.394

Upper tail=0.507*100

Upper tail =50.7%

Second step is to find the Lower tail using this formula

Lower tail=Average return percentage -(Standard deviation of 95% confident *Standard deviation of its returns)

Let plug in the formula

Upper tail=0.113-(2*0.197)

Upper tail =0.113-0.394

Upper tail=-0.281*100

Upper tail =28.1%

Based on the above calculation the lower tail was -28.1% which means that it wouldn't in any way loss more than the 30% of it value next year outside the​ 95% confidence interval for the portfolio

7 0
3 years ago
What should you do before you approach a atm
kap26 [50]

Answer:

Try to use ATMs with which you are familiar. Choose well-lit, well-placed ATMs where you feel comfortable. If you need to use an ATM late at night, ask a friend to accompany you.

Before approaching the ATM, scan the surrounding area. Avoid the ATM altogether if it is too dark to see, isolated or looks unsafe. If there are bystanders loitering in the area, go to another machine or come back later.

Use your body to shield the screen and keypad before entering your PIN. Make sure other individuals in line stay a reasonable distance from you while you're performing your transaction.

6 0
3 years ago
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